@Anonymous wrote:Say you have 2 TL. One is 10 years old, the other is 6 months old. If you have three 9 year old lates on that 10 year old account, it's better to keep them than to delete that TL. Why would you want to erase 10 years of credit history, 9 years of GOOD history just to remove some lates? Obviously it's different if you've got 3 10 year old accounts and one has three lates on it. Removing one of the accounts doesn't hurt your AAoA at all and it removes the lates.
It's not accurate to say lates affect your score more than AAoA based solely on your own experiences because your overall history is probably nothing like the OP.
It is not me saying that lates, ie payment history, affect your scores more than AAoA. I do not base what I have said above and then what you have apparently misread solely on my own experiences. Payment history comprises 35% of your score, length of credit history comprises 15% of your score, these are facts.
What I did say was if you have 90 day lates or maybe 60 day lates you should try to get them off. Clearly, since the OP said he had lates on ALL HIS TL's, no one is/was advocating deleting/removing all his TL's...
I have no idea what a person would do with a 10 year old TL with three 9 year old lates on it since lates do not affect your CR's after seven years. So I do not know why a person would want to remove a 10 year old TL if the lates on it no longer were a negative factor.
Also, just talking about "lates" in a general way does no one any good. Saying "old lates aren't that bad" does not give the full picture. What KIND (30/60/90/120???) of lates seems to matter greatly. Like I stated, in my case the 60 late and the 90 late were poison for my FAKO scores. I lost like 3 years total of AAoA by getting a 17 year old TL deleted but my scores went up like 50 points. No one ever claimed that my history is similar to the OP's. The only statement I made that wasn't about my experience solely was that 60 and 90 day lates are very bad for your scores.
Lastly, I specifically related my Chase GW story on this thread because the OP had already done a similar Chase GW. Chase is virtually the only OC that if and when they decide to give GW, they always insist on deleting the entire TL and not just removing the lates contained in that TL. In all the GW success stories contained in posts I have read here, it seemed to me that the vast majority of the very small minority of GW's given by other OC's or even CA's DO NOT delete the entire TL and merely remove the lates. Perhaps the OP, because of his experience with Chase, now thinks that GW's= account deletion or removal, it does not based again on many threads I have read here. I definitely should have said that in my earlier response because it is an important difference to be made....... I completely understand the idea of NOT removing positive TL's, if I could/would have waited 2 more years my Chase would have been clean and been giving me 19 years of age. But i need to clean up my act sooner that August 2013 so I tried and suceeded in getting rid of that TL now.
All I am saying specifically is that 60 and 90 day lates seemed to be very bad on my CR's and might be very bad on other people's CR's but like they say: YMMV
Oh, and below is where I got my "not accurate" information about lates affecting your scores more than AAoA...
What’s in your FICO® score
FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your FICO score.
These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different.
Payment History- Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.)
- Presence of adverse public records (bankruptcy, judgements, suits, liens, wage attachments, etc.), collection items, and/or delinquency (past due items)
- Severity of delinquency (how long past due)
- Amount past due on delinquent accounts or collection items
- Time since (recency of) past due items (delinquency), adverse public records (if any), or collection items (if any)
- Number of past due items on file
- Number of accounts paid as agreed
- Amount owing on accounts
- Amount owing on specific types of accounts
- Lack of a specific type of balance, in some cases
- Number of accounts with balances
- Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)
- Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans)
- Time since accounts opened
- Time since accounts opened, by specific type of account
- Time since account activity
- Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account
- Number of recent credit inquiries
- Time since recent account opening(s), by type of account
- Time since credit inquiry(s)
- Re-establishment of positive credit history following past payment problems
- Number of (presence, prevalence, and recent information on) various types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts, etc.)
Please note that:
- A FICO score takes into consideration all these categories of information, not just one or two.
No one piece of information or factor alone will determine your score. - The importance of any factor depends on the overall information in your credit report.
For some people, a given factor may be more important than for someone else with a different credit history. In addition, as the information in your credit report changes, so does the importance of any factor in determining your FICO score. Thus, it's impossible to say exactly how important any single factor is in determining your score - even the levels of importance shown here are for the general population, and will be different for different credit profiles. What's important is the mix of information, which varies from person to person, and for any one person over time. - Your FICO score only looks at information in your credit report.
However, lenders look at many things when making a credit decision including your income, how long you have worked at your present job and the kind of credit you are requesting. - Your score considers both positive and negative information in your credit report.
Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your FICO credit score.
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Starting Score: TU-685 (FICO) EQ-674 (FICO) EX-713 (PLUS SCORE FAKO)
SO the results are in....and my Experan went up 10 points after removing the chase account. woo hoo Ill take it! Now I am just working on macys, old navy, and victoria secret 60 day lates 
If anyone has a good contact for these let me know!
Also another question, I have alot of student loans still in grace period do those count toward my good credit history yet? I know they will as soon as I start repaying...but wondering if they are helping now because they are in good standing.
Thanks everyone!
@Anonymous wrote:SO the results are in....and my Experan went up 10 points after removing the chase account. woo hoo Ill take it! Now I am just working on macys, old navy, and victoria secret 60 day lates
Also another question, I have alot of student loans still in grace period do those count toward my good credit history yet? I know they will as soon as I start repaying...but wondering if they are helping now because they are in good standing.
Thanks everyone!
Good for you!!! Remember Chase is the major hard rock about ONLY deleting entire TL's and not just removing the lates from your CR's... Your goal is to GW (sweettalk) as many of the rest as you can off and retain the TL if possible. Fallback positions are "can they at least change a 60 into a 30" or can they lose one of the lates if you have more than one on a TL...
I have been working in a big way on getting my GF's Macy's baddie off her CR's... No success yet but... A lot of people get some success on the phone by just calling and calling the CRS's and asking. The letter writers have had some success.
For every TL you want to try to get off your reports, just Google the company name and GW success, read ALL you can and buy a bunch of stamps. All they can say is no thanks.